BETA Technologies, Inc. (BETA) vs Karman Holdings Inc. (KRMN)

BETA Technologies, Inc. and Karman Holdings Inc. are both Aerospace & Defense companies. BETA Technologies, Inc. and Karman Holdings Inc. are of similar size ($4.5B and $4.4B). BETA Technologies, Inc. has negative trailing earnings, so its P/E is not meaningful; Karman Holdings Inc. trades at 120×. Karman Holdings Inc. has the higher net margin (6.31% vs −2,343.9%) and the higher return on invested capital (5.09% vs −101.7%). Across the 16 metrics below, Karman Holdings Inc. leads on 11 and BETA Technologies, Inc. on 5.

Valuation

Metric BETA KRMN Aerospace & Defense median
P/E n/m 119.59 31.81
P/S 93.27 7.80 3.55
P/B 2.59 10.91 2.59
Price to free cash flow n/m n/m 31.99
EV/EBITDA n/m 34.57 18.08
EV/Sales 64.19 9.15 3.37
Earnings yield (72.21%) 0.84% 1.38%
Free cash flow yield (10.07%) (0.59%) 0.21%

Profitability

Metric BETA KRMN Aerospace & Defense median
Gross margin 60.06% 41.67% 25.48%
Operating margin (1,129.31%) 16.82% 4.54%
Net margin (2,343.89%) 6.31% 2.22%
Free cash flow margin (939.05%) (4.63%) 1.43%
Return on equity (328.55%) 9.50% 6.43%
Return on assets (83.66%) 3.10% 2.70%
Return on invested capital (101.73%) 5.09% 1.56%

Growth

Metric BETA KRMN Aerospace & Defense median
Revenue growth (TTM) — 50.23% 18.43%
EPS growth (last fiscal year) (110.89%) 62.50% 24.27%
Revenue growth, 5-year CAGR — — 9.73%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric BETA KRMN Aerospace & Defense median
Debt to equity 0.11 2.01 0.24
Current ratio 14.47 3.56 2.72
Net debt to EBITDA 4.36 4.60 1.12

Dividend

Metric BETA KRMN Aerospace & Defense median
Dividend yield — — 0.90%
Payout ratio — — 0.32

Size

Metric BETA KRMN Aerospace & Defense median
Market cap 4.40b 4.49b 2.19b

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